Chatham Lodging Trust (NYSE:CLDT) Receives Average Rating of “Buy” from Brokerages

Posted by on Jun 8th, 2022

Chatham Lodging Trust (NYSE:CLDT – Get Rating) has been given an average recommendation of “Buy” by the six research firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $17.17.

CLDT has been the topic of several research analyst reports. Oppenheimer assumed coverage on shares of Chatham Lodging Trust in a report on Thursday, April 21st. They issued an “outperform” rating and a $19.00 price target on the stock. StockNews.com raised shares of Chatham Lodging Trust from a “sell” rating to a “hold” rating in a report on Thursday, May 5th. TheStreet raised shares of Chatham Lodging Trust from a “d+” rating to a “c-” rating in a report on Monday, April 18th. Finally, Zacks Investment Research cut shares of Chatham Lodging Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, May 10th.

In other news, Director Robert D. Perlmutter purchased 4,200 shares of the business’s stock in a transaction that occurred on Friday, May 20th. The shares were acquired at an average cost of $11.84 per share, for a total transaction of $49,728.00. Following the completion of the acquisition, the director now owns 73,100 shares in the company, valued at $865,504. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edwin B. Brewer, Jr. purchased 10,000 shares of the company’s stock in a transaction on Wednesday, May 18th. The shares were purchased at an average cost of $21.25 per share, with a total value of $212,500.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $212,500. The disclosure for this purchase can be found here. Insiders own 5.20% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Lazard Asset Management LLC bought a new stake in Chatham Lodging Trust during the 1st quarter valued at about $29,000. Royal Bank of Canada increased its stake in Chatham Lodging Trust by 207.8% during the 2nd quarter. Royal Bank of Canada now owns 4,593 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 3,101 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Chatham Lodging Trust in the fourth quarter worth approximately $70,000. PNC Financial Services Group Inc. grew its stake in shares of Chatham Lodging Trust by 57.5% in the first quarter. PNC Financial Services Group Inc. now owns 8,525 shares of the real estate investment trust’s stock worth $118,000 after acquiring an additional 3,111 shares during the period. Finally, Teacher Retirement System of Texas bought a new stake in shares of Chatham Lodging Trust in the first quarter worth approximately $139,000. Institutional investors own 84.83% of the company’s stock.

Chatham Lodging Trust stock traded down $0.08 during trading hours on Wednesday, hitting $13.40. The company had a trading volume of 7,865 shares, compared to its average volume of 309,679. The firm has a market cap of $654.05 million, a PE ratio of -17.87 and a beta of 1.72. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.26 and a quick ratio of 1.26. Chatham Lodging Trust has a one year low of $11.00 and a one year high of $15.12. The firm has a 50-day moving average of $13.18 and a 200 day moving average of $13.38.

Chatham Lodging Trust (NYSE:CLDT – Get Rating) last released its quarterly earnings results on Wednesday, May 4th. The real estate investment trust reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.30). Chatham Lodging Trust had a negative net margin of 13.46% and a negative return on equity of 3.73%. During the same quarter in the prior year, the firm earned ($0.15) earnings per share. As a group, research analysts expect that Chatham Lodging Trust will post 1.05 earnings per share for the current year.

About Chatham Lodging Trust (Get Rating)

Chatham Lodging Trust is a self-advised, publicly traded real estate investment trust focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels. At September, 30, 2020, The company owns interests in 86 hotels totaling 12,040 rooms/suites, comprised of 40 properties it wholly owns with an aggregate of 6,092 rooms/suites in 15 states and the District of Columbia and a minority investment in the Innkeepers joint ventures that owns 46 hotels with an aggregate of 5,948 rooms/suites.

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